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Gund sold to gift co. Enesco

By Staff -- Gifts and Dec, 7/1/2008 8:29:00 AM

ITASCA, Ill.—Giftware and décor products producer Enesco has purchased the worldwide assets of Gund, the family owned plush manufacturer, for an undisclosed sum.

“The decision to sell our family’s business after 110 years was not easy. We chose Enesco and have confidence in its commitment to the Gund brand and its ability to maintain Gund’s stellar reputation,” said Bruce Raiffe, Gund’s chairman and CEO. “Enesco has an appreciation for our associates with whom I feel fortunate to have worked with for many years. Enesco has a fine reputation, and I believe the company will continue to be very successful with Gund as it builds upon our strong heritage.”

Enesco’s purchase of Edison, N.J.-based plush purveyor is part of a strategy to become “the global leader in the gift, garden and home décor markets by internally building, buying and licensing the premiere brands in the industry,” according to the company. Gund joins an Enesco roster that features several recently acquired gift market brands, including plush-focused collectibles business The Boyds Collection.

“We wish to thank the Raiffe family members for their confidence in Enesco as the future stewards of Gund—a brand that they have passionately built and nurtured over the past three generations,” said Matthew Bousquette, Enesco’s executive chairman. “We continue to focus on building Enesco’s portfolio of strong consumer-driven brands and look forward to the addition of more great artists and brands to the Enesco family in the future.”

Gund’s products can be found in more than 15,000 retail outlets, including gift, specialty, floral, toy, book, museum and department stores. Its distribution includes Canada, Europe, Asia, Australia and South America.

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